Sample Size Can Affect Whether Statistically Significant Differences Are Found

question 13

Multiple Choice

Sample size can affect whether statistically significant differences are found, but sometimes in extremely large samples differences are found that are significant but of no real value or interest.What standardized value helps measure the size of the difference in relation to the variability of the data rather than to that of sample size?

• A) alpha level
• B) confidence interval
• C) effect size
• D) interval estimate

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to allocate revenues and expenses to the period in which they actually occurred.

Total Assets

The sum of all owned resources that have economic value and can be converted into cash, which appear on a company's balance sheet.

Accrued Expenses

Expenses that have been incurred but not yet paid, recognized in the financial statements before the cash transactions occur.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting the asset's consumption, wear and tear, or obsolescence.